DUBLIN, Nov. 23, 2023 /PRNewswire/ –The “India Supercapacitors Market Competition Forecast & Opportunities, 2028” report has been added to ResearchAndMarkets.com’s offering.
India Supercapacitors Market is anticipated to grow at a robust to 2028 due to increase in sales of electronic products and automobiles.
Supercapacitors, also known as ultracapacitors, double layer capacitors, or electrochemical capacitors, are a type of energy storage system.
Supercapacitors have a much higher power density than batteries, so they can transfer and absorb energy from the load much faster than batteries. In EV applications, this allows EVs to be charged in minutes instead of hours and hence supercapacitors are widely used in EVs.
According to India Brand Equity Foundation (IBEF), the government has been launching various schemes for early adoption of EVs in India. Faster Adoption & Manufacturing of (Hybrid &) Electric Vehicles (FAME) was launched in 2015 for promotion and adoption of EVs. In the recently presented Union Budget of 2022-2023, the government extended the scheme until 2024.
Under this scheme, USD1.3 billion (Rs. 10,000 crore) were allocated for supporting more than 1 million two-wheelers, three-wheelers, passenger vehicles and buses. In 2021, Indian Government introduced Production Linked Incentive for Advanced Chemistry Cell Battery Storage (PLI-ACC) scheme for boosting India’s battery infrastructure by allocating USD2.45 billion (Rs 18,100 crore).
Various segments covered by this program include supercapacitors, automatic transmissions, electric power steering, sensors, sunroofs, tire pressure monitoring systems, and collision warning systems. These investments are expected to drive the India Supercapacitors Market during the forecast period.
Electronic Industry is driving the market growth of Supercapacitors
Supercapacitors are used in various electronic devices such as laptop computers, PDAs, GPS, portable media players, hand-held devices, and photovoltaic systems. In 2022, the government has approved a USD 2,357.6 million (Rs. 19,500 crore) Production Linked Incentive (PLI) scheme for photovoltaic (PV) manufacturing.
The program is expected to achieve gigawatt (GW) scale production capacity of high efficiency photovoltaic modules. According to India Brand Equity Foundation (IBEF), the Indian appliances and consumer electronics industry is expected to reach USD 21.18 billion (Rs. 1.48 lakh crore) by 2025 more than double what it was in 2021. The government predicts that India’s electronics manufacturing sector will reach USD 300 billion (Rs 2.25 crore) by 2024-2025.
Moreover, Lenovo, who specializes in manufacturing by the company include desktop computers, laptops, tablet computers, smartphones. It has announced to expand its manufacturing industries across India in various product categories such as PCs, laptops and smartphones.
This huge investment and expansion of business across the country in electronic industry is expected to boost the India Supercapacitors Market during the forecast period.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the India Supercapacitors Market.
- AVX Corporation
- Eaton Corporation Plc
- Elna Co. Ltd.
- LS Mtron Ltd.
- Maxwell Technologies Inc.
- Murata Manufacturing Co., Ltd.
- Nippon Chemi-Con Corporation
- Godi India Pvt Ltd.
- Yunasko Ltd
- Cap-XX Ltd.
Report Scope:
India Supercapacitors Market, By End User:
- Consumer Electronics
- Energy
- Industrial
- Automotive
- Others
India Supercapacitors Market, By Type:
- Double-Layer Capacitor
- Pseudo capacitors
- Hybrid Capacitors
India Supercapacitors Market, By Capacitance:
- Less Than 1F
- 1F to 100F
- More than 100F
India Supercapacitors Market, By Region:
- North India
- South India
- West India
- East India
For more information about this report visit https://www.researchandmarkets.com/r/o87qs4
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